OPEC+ set to approve minuscule oil output rise in rebuff to Biden

Published by
Reuters

By Maha El Dahan and Ahmad Ghaddar NUR-SULTAN/LONDON (Reuters) -OPEC+ is set to raise oil output by a tiny 100,000 barrels per day in what analysts described as an insult to U.S. President Joe Biden after his trip to Saudi Arabia last month to persuade OPEC’s leader to pump more to help the U.S. and global economy. The increase, equivalent to 86 seconds of global oil demand, comes after weeks of speculation that Biden’s trip to the Middle East and Washington’s clearance of offensive missiles sales to Riyadh and the United Arab Emirates will bring in more oil. An OPEC+ document showed the group…

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